The Prudent Retiree - March 29, 2022
Vladimir Putin is not a fan of John and Yoko. For the last fifty years, “Give Peace a Chance” has been adopted as an anthem during violent conflicts in the world. Prudent Retiree is not going to comment on when war is just, but we know there are always tragic consequences and innocent people suffer. Putin doesn’t care about the death and destruction he has caused. Power, not peace is his mantra. He has destroyed Ukraine, devastated his own nation and people, and exacerbated the global supply chain and energy crisis. This has pushed inflation higher and hurt us all.
By all rights, one would expect the market to be in severe trouble. Surprisingly, it has held up very well during this crisis. Puzzling, but proof that investors should always listen to the market and not react to the news. Give stocks a chance. The market made an all-time high at the end of last year. We experienced extraordinary returns in 2019, 2020 and 2021. A relatively small pullback is not alarming. Periodic corrections are part and parcel of investing. At this moment, the market is telling us not to panic. The market’s message can change anytime and Prudent Retiree is flexible.
Surely, there is much to worry about and heightened risks to consider—Ukraine, spiking oil prices, product shortages, rising inflation, higher interest rates, Fed policy, Coronavirus, ugly politics and possibly a recession. Many reasons to run. The market, though, is telling us to stay. Fortunately, the economy is strong, people are working and corporate profits are on the plus side. When fear is rampant, it can be tough to stay disciplined. Our risk management model remains positive and you should maintain current allocations. Consideration of risk is always front and center and we’ll make changes as the market dictates.
John and Yoko. Peace. Putin. We don’t know Putin’s mind and how this plays out. We can only pray that peace comes to Ukraine. John Lennon was violently murdered in 1980. Yoko continues with her quest for peace. Last week, she organized a global illumination of “Imagine Peace” in Times Square and similar locations throughout the world. Candidly, I’ve never been a Yoko fan. I’ve always thought of her as the strange lady sitting by John. HOWEVER—Prudent Retiree believes we should join Yoko and Give Peace a Chance.
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